GDPR Cookie Consent by SimpleServe Privacy Script Log Book Loans caught in "possibly criminal" sham - AAD Consumer Forum

Announcement

Collapse
No announcement yet.

Log Book Loans caught in "possibly criminal" sham

Collapse
X
Collapse
 
  • Page of 7
  • Filter
  • Time
  • Show
Clear All
new posts
Previous 1 2 3 4 5 6 7 template Next
  • #46
    Re: Log Book Loans caught in "possibly criminal" sham

    Ok Jared

    Simply put, to answer your question, because in times of need you agree to things that ordinarily you'd never agree to. What's that old saying "beggars can't be choosers" so people try and fail. These firms KNOW this thus the high apr to start.

    A typical business plan for a payday loan company would show a high rate of defaults but the charges paid by those that repay cover the losses. Basic economics mate.
    I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

    If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

    Comment

    • #47
      Re: Log Book Loans caught in "possibly criminal" sham

      Originally posted by Jared View Post
      Isn't that something to take into account whenever taking out a long term agreement though?
      What the fact I'd been with the same firm 10+ years and they had to make cuts in a recession.

      Ermmm, if I could as you suggest I'd have picked the lottery numbers, no?
      I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

      If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

      Comment

      • #48
        Re: Log Book Loans caught in "possibly criminal" sham

        Jared

        I own this site and 5 others. We do not charge anyone. I fund it.

        I am not in debt, I used me as an example but I personally don't have debts no. Savings, hell yea - I go to Cuba twice a year and these sites eat a load as well.

        Anything else you'd like to know?
        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

        If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

        Comment

        • #49
          Re: Log Book Loans caught in "possibly criminal" sham

          Originally posted by Jared View Post

          Edit: It seems I have made a mistake somewhat - but the fact you have a Loans and even a Payday Loans subforum and have "debt" in the URL made me think this forum was something it was not. Anyway I would be interested in the above - and the person who was earlier earning £100k a year, did you have savings?
          These boards are for people who have previously taken out loans/payday loans - not while they've been members!!
          Let your smile change the world but don't let the world change your smile

          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

          Comment

          • #50
            Re: Log Book Loans caught in "possibly criminal" sham

            Right you talk of Contract. You are clearly wanting to move onto the Common Law of Contract. Right now an awful lot of Credit card and fixed term loan "contracts" fall OUTSIDE the legal framework. MOST of the tactics used by lenders are either actually illegal or fall poutside the regulations laid by the OFT Guidelines and MALG. Hence on the "contract" issue the contract in your arguyment must be "void". It does not conform with the law. Therefore in Common Law of Contract an equitable remedy is required and BOTH parties have to be returned to a position they were in immediately prior to the signing of the now void contract. So all sums withdrawn/purchases by the borrower have to be summed, all payments made, charges and interest have to be summed PLUS all of the earnings made by the lender on those payments over the whole lifetime of the void contract, interest at the current contractual e.g on a card will have to be added plus the 8% statutory interest normally by a court. Then the diferences between the two figure s have to be spilt equally between parties. If a card ot loan has had significant life (ours over 25years) who is going to get paid out? I'll tell you ME.

            Thats is the definition in Common Law of "equitable remedy". Therefore in your somewhat pro bank stance would you join my efforts please to get the bank to pay me out what it morally and legally owes me in !equitable remedy? You say they operate legally, and you have intimated that you want Common Law remedies, there you go there is the Common Law remedy!

            I can go and live the high life again. Perhaps I can afford to see my family the other side of the world for the last time whilst I'm alive. Perhaps I can afford private medicine to give a pain free night occasionally. Perhaps I won't be supporting a bunch of greedy scrotes who have no place in a modern civilised society.

            Remeber it was you who knowingly or unknowlingly introduced the Common law remdy aspect not me.

            regards
            Garlok

            Comment

            • #51
              Re: Log Book Loans caught in "possibly criminal" sham

              Originally posted by Never-In-Doubt View Post
              What the fact I'd been with the same firm 10+ years and they had to make cuts in a recession.

              Ermmm, if I could as you suggest I'd have picked the lottery numbers, no?
              No... I don't know about your position but a payday loan is a short term one. Again that is all I am referring to after seeing the comment left on the Mirror site by one of your members. If your job is at risk within the next 6 weeks then opt out or borrow on a credit card.

              I understand the business model of a payday loan company benefits from defaults (as do overdrafts, credit cards etc) but again that's after the default and I'm not really talking about that. You summed up my own feelings precisely earlier when you said "bollocks" to the people who take out loans without thinking about the repercussions, so there is little distance in pursuing this discussion as those are my sentiments.

              Comment

              • #52
                Re: Log Book Loans caught in "possibly criminal" sham

                Originally posted by Jared View Post
                If your job is at risk within the next 6 weeks then opt out or borrow on a credit card.
                And how on earth are you supposed to know that? My SIL was recently made redundant - no warning, no notice.
                Let your smile change the world but don't let the world change your smile

                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                Comment

                • #53
                  Re: Log Book Loans caught in "possibly criminal" sham

                  Garlok I have not even mentioned banks, only payday lenders, for the most part banks do not offer these yet. I cannot stand the banks and use credit unions and building societies.

                  Comment

                  • #54
                    Re: Log Book Loans caught in "possibly criminal" sham

                    Originally posted by Pixie View Post
                    And how on earth are you supposed to know that? My SIL was recently made redundant - no warning, no notice.
                    Turn on the news?

                    Comment

                    • #55
                      Re: Log Book Loans caught in "possibly criminal" sham

                      Originally posted by Jared View Post
                      Turn on the news?
                      So if he'd turned on the news he would have received a warning that his particular employer was about to make him redundant?
                      Let your smile change the world but don't let the world change your smile

                      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                      Comment

                      • #56
                        Re: Log Book Loans caught in "possibly criminal" sham

                        Originally posted by Pixie View Post
                        So if he'd turned on the news he would have received a warning that his particular employer was about to make him redundant?
                        Clutching at straws a bit... No, he would have known that with the current economic climate any sort of finance is risky and you take on that risk yourself by signing on the dotted line.

                        Not saying I don't have sympathy for those who cannot afford repayments, it's when the blame shifts to the lender for handing them credit that they asked for, that gets my goat!

                        Comment

                        • #57
                          Re: Log Book Loans caught in "possibly criminal" sham

                          Originally posted by Pixie View Post
                          So if he'd turned on the news he would have received a warning that his particular employer was about to make him redundant?
                          I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                          If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

                          Comment

                          • #58
                            Re: Log Book Loans caught in "possibly criminal" sham

                            Originally posted by Jared View Post
                            Clutching at straws a bit... No, he would have known that with the current economic climate any sort of finance is risky and you take on that risk yourself by signing on the dotted line.

                            Not saying I don't have sympathy for those who cannot afford repayments, it's when the blame shifts to the lender for handing them credit that they asked for, that gets my goat!
                            August 2006. We were not in recession.

                            Maybe you missed my post above - I am not in any debt
                            I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                            If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

                            Comment

                            • #59
                              Re: Log Book Loans caught in "possibly criminal" sham

                              The fact remains that payday loan companies etc are immoral in charging extortionate rates of interest.
                              Let your smile change the world but don't let the world change your smile

                              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                              Comment

                              • #60
                                Re: Log Book Loans caught in "possibly criminal" sham

                                Originally posted by Never-In-Doubt View Post
                                August 2006. We were not in recession.

                                Maybe you missed my post above - I am not in any debt
                                I didn't say you were did I?... Unless you are the SIL of Pixie, but s/he said you were in debt, not me

                                Comment

                                Previous 1 2 3 4 5 6 7 template Next
                                Working...
                                X